Finance Secretary Benjamin Diokno said the private sector is welcomed to invest in infrastructure development and other industries, as he made an assurance the country has the enabling business environment and ample fiscal space for key projects.
“[We] will just provide the environment for the private sector to thrive, and, of course, they are welcome to invest in the country whose growth rate potential is one of the highest in the region,” Diokno said during the post-State of the Nation Address (SONA) Philippine Economic Briefing Tuesday.
President Ferdinand Marcos Jr. said in his first SONA that infrastructure development would remain a top priority of his administration to drive employment, agriculture, tourism and overall economic growth.
The President said that he would build on and expand the infrastructure program of the Duterte administration.
Diokno said the government can fund the Marcos administration’s infrastructure program and sustain infrastructure spending at 5 percent to 6 percent of the gross domestic product.